Illinois Passes Controversial $55.2 Billion Budget: Tax Hikes and RTA Funding Crisis Loom

Illinois lawmakers passed a new $55.2 billion budget late Saturday, sparking debate and concern. The budget includes significant tax increases on various goods and services, including sports betting, nicotine products, and businesses. This move aims to address a projected $1 billion revenue shortfall, but it also cuts the state's property tax relief grant, potentially leading to higher property taxes for residents. The budget's passage came with minimal public review, drawing criticism from Republicans who argue it lacks sufficient spending cuts. Adding to the controversy, the budget omits a crucial $771 million bailout for the Regional Transportation Authority (RTA), responsible for Metra, Pace, and CTA. The RTA warns this omission will necessitate severe service cuts. Despite the concerns, Governor JB Pritzker has expressed his approval and intends to sign the budget. In his statement, he said, "I look forward to signing my seventh balanced budget in a row and continuing to build a stronger Illinois." The budget's impact on Illinois residents and the potential consequences of the RTA funding shortfall remain to be seen.